Operating Fund

The university budget draws from the general operating fund which consists of government grants, student fees and other revenue. Expenses from these funds relate directly to the educational mandate of the university, including teaching, research, library services and maintenance costs.

Core components

The operating fund comprises two major components:

• Revenues received from various sources, such as tuition, student ancillary fees, government grants and investments; and

• Expenditures, which are funds used for spending, such as departmental expenses, (salaries, benefits and supplies) and central university expenses (utilities and facilities maintenance).

Determining base budgets

Base budgets are determined by the previous year’s approved base budget, plus or minus base changes approved during the current fiscal year.

Operating funds breakdown

As TMU receives income from numerous sources for various activities, parts of the operating fund are set aside for spending in:

• general operating (including continuing education)

• professional development

• internal research